Marcus & Millichap is pleased to offer the opportunity to acquire a 6,224-square foot, single tenant building leased to iKids Pediatric Dentistry in Waxahachie, Texas. The double-net lease has more than seven years remaining on the primary term with staggered rent increases. The tenant has two six-year options for renewal that include rent increases at the beginning of each renewal period. Constructed in 2016, the building is situated on 1.15 acres.
The subject property is located in a developing area off of Highway 77 in the northern section of the city. Traffic counts on Highway 77 are approximately 19,100 vehicles per day. Directly across from the property is the North Grove residential development, a master-planned community that is expected to feature more than 1,800 homes upon completion. Nearby Baylor Scott & White Medical Center – Waxahachie was completed in late 2014. The hospital is located at 2400 North Interstate 35E, and features a dedicated cancer center and expanded women’s health services, including labor and delivery.
Approximately one mile south of the property is the intersection of Highway 77 with Highway 287, an extremely dense retail trade area. Hundreds of national and regional tenants are in the area, including Target, The Home Depot, Lowe’s, Academy Sports and Outdoors, TJ Maxx, Best Western, Ross Dress for Less, JCPenney, Best Buy, Belk, Olive Garden, H-E-B grocery store, Walmart, Sears, La Quinta Inn and Suites, Dollar General, Bealls, Aaron’s, Tractor Supply Co., Hastings, Hibbett Sports, Aldi, Dollar Tree, Big Lots, and more. Demographics are strong, with an average household income of $85,500 within one mile of the property and the population exceeding 43,300 within five miles.
- Double-Net Lease | Landlord Responsible for Roof and Structure
- More Than Seven Years Remaining on the Primary Term with Scheduled Rent Increases
- Tenant has Two Six-Year Options for Renewal Available
- Lease has a Personal Guarantee
- Guarantor Currently has 10 Locations in the Dallas/Fort Worth Metroplex
- 2016 Construction
- Located in a Growing Area off Highway 77 | Traffic Counts are Approximately 19,100 Vehicles per Day
- North Grove Development Under Construction Directly Across the Highway | Master Planned Community with More than 1,800 Residences Expected Upon Completion
- Near Baylor Scott & White Medical Center – Waxahachie | $175 Million Medical Center Completed in 2014
- Extremely Dense Retail Trade Area Along Highway 77 and the Intersection with Highway 287 | Major Retailers Include Target, Walmart, The Home Depot, Lowe’s, H-E-B Grocery, Tractor Supply Co., Aldi, Dollar Tree, Big Lots, Academy Sports and Outdoors, JCPenney, Sears, and Hundred of Others
- Strong Demographics | One-Mile Average Household Income is $85,500 | Five-Mile Population Exceeds 43,300 with Expected Growth Due to New Residential Developments